How much do you charge?
Jeanette Cates here with an article that really hit home. It
arrived in my inbox this week and started my thinking...
May is quickly approaching - and that brings several things
to mind - My Birthday, First Tuesday's call-in day, the 9th
anniversary of TechTamers, Cinco de Mayo, Armed Forces day,
graduation days and the end of school - just to name a few.
To celebrate all of these events, I will be sharing the 15
Days of May. In every email you will receive a special offer
that includes a minimum of either a 10% or a ten dollar
discount on the item of the day. Each special will run from
midnight to midnight, Central Daylight time. So look for the
first email to arrive in your inbox on Sunday evening so you
can get an early start on Monday's special.
And for those of you who plan to call into First Tuesday's
call - we have a new number. So please register at TechTamers.
This week's article deals with pricing, a topic I get a lot
of questions about. In the article you'll see
- the three reasons to raises your prices
- when you shouldn't raise your prices
- why price increases actually benefit your clients
and more!
Have a great weekend - and look for the first of the 15 Days
of May on Sunday, April 30 (central time).
Jeanette
Editor's Note: I found this article helpful, so I wanted to pass it on to you. I'd love to hear your thoughts and ideas on it - just leave a comment below!
- Jeanette
When To Raise Your Prices, Without Feeling Evil About It
By Mark Silver
There are many legitimate reasons to raise your prices. But, you need to think about more than just yourself here. That's right, raising your prices can actually be an unselfish act, done in deep service to your customers. Your customers may be missing out on important benefits to themselves if you don't raise your prices.
WARNING: The benefits ONLY APPLY IF the higher price is coming from a place of truth and integrity in your heart. Simply raising your prices will not automatically create these benefits.
The Big Authentic Benefit of raising your prices is that your customer gets more out of your product or service, simply by paying more. How can this be true?
Whatever you are selling is meant to help change or transform your customers in some way, to make their lives better. Whether you are selling oatmeal, accounting, or Reiki, the reason you are in business is that you want to see your customers/clients doing better, feeling happier and/or being healthier in some fashion.
Unfortunately, the truth is that you don't have the power to change anyone. You already know this from experience. True change comes about when people commit to change, they take it on. It could be a commitment to eating oatmeal instead of pastries for breakfast. It could be a commitment to a healthy relationship with their finances and their accounting. Either way, it's the customer's commitment that is responsible for the amazing results you can create with them through your business.
Strange But True
An acupuncturist client I worked with saw her clients get well more quickly, as a result of higher prices. One reason may have been that, in general, the clients more consistently followed through with what she told them to do between sessions, because, heck, "I'm paying enough for this, I probably should do what she tells me."
This also functions on far more subtle levels. I happen to believe that when the Truth is present, miracles happen. Part of the Truth is you, in generosity, giving to your customers. Part of the Truth is admitting your mistakes, holding the highest standards you can, and keeping the customer's best interests at heart.
Part of the Truth is also asking them to pay your True price, even if it's higher than is presently comfortable for you.
The money a customer pays is, in part, a reflection of how present he or she is in the relationship. If the price is too low, less of the customer is present, and less presence means less change for them. They get fewer results by paying less, because they are less committed. And, if you aren't asking them to pay the True price, then less of you is present as well.
If you have the courage to face the Truth about your pricing, everyone becomes more present, and miracles can occur. Including the miracle of your own profitability. :-)
Keys to Signs that You Need to Face the Truth and Raise Your Prices
* When you have overflow demand for your product or service.
Guess what? It's time to raise your prices. Why it's important: a business that is busy is asking for creativity in terms of how it's developing. Clearly you've struck a nerve in people, and there is more demand than you have capacity to give.
If you don't raise your prices until you are down to 80% of your capacity (while making as much or more money), you won't have the breathing space to develop the next level of your business, so you can figure out how to help all those people who are asking for what you are offering.
* When you find yourself exhausted and resentful, and you still don't have enough money.
This isn't the same as being overflowingly busy. Here, you may feel resentful and exhausted after working with just one client. You may feel bored with your business. You may feel that it's just not worth it.
There can be any number of things going on here, but, surprisingly often, it just means your price is too low for you to feel nourished by the transaction with your client. It takes a real humility to care and give to your customers. It also takes a real humility to receive their generosity back. Be humble. Raise your prices. You'll feel better.
* When people tell you that you don't charge enough.
Be careful with this one: Often customers will tell you that you don't charge enough, when what they really mean is: "This is a great value! I love your price!" If you feel good, and your business isn't yet bursting at the seams, you probably have a perfect price.
However, if you are bursting at the seams, or you are tired and resentful, or, strangely enough no one is buying, your prices may be too low. In that case listen to the good advice, and raise them.
My very best to you and your business,
-----
Mark Silver is the author of Unveiling the Heart of Your Business: How Money, Marketing and Sales can Deepen Your Heart, Heal the World, and Still Add to Your Bottom Line. He has helped hundreds of small business owners around the globe, by integrating 1500 years of spiritual wisdom with down-to-earth business practices. Get three complimentary chapters of the book online: http://www.heartofbusiness.com
arrived in my inbox this week and started my thinking...
May is quickly approaching - and that brings several things
to mind - My Birthday, First Tuesday's call-in day, the 9th
anniversary of TechTamers, Cinco de Mayo, Armed Forces day,
graduation days and the end of school - just to name a few.
To celebrate all of these events, I will be sharing the 15
Days of May. In every email you will receive a special offer
that includes a minimum of either a 10% or a ten dollar
discount on the item of the day. Each special will run from
midnight to midnight, Central Daylight time. So look for the
first email to arrive in your inbox on Sunday evening so you
can get an early start on Monday's special.
And for those of you who plan to call into First Tuesday's
call - we have a new number. So please register at TechTamers.
This week's article deals with pricing, a topic I get a lot
of questions about. In the article you'll see
- the three reasons to raises your prices
- when you shouldn't raise your prices
- why price increases actually benefit your clients
and more!
Have a great weekend - and look for the first of the 15 Days
of May on Sunday, April 30 (central time).
Jeanette
Editor's Note: I found this article helpful, so I wanted to pass it on to you. I'd love to hear your thoughts and ideas on it - just leave a comment below!
- Jeanette
When To Raise Your Prices, Without Feeling Evil About It
By Mark Silver
There are many legitimate reasons to raise your prices. But, you need to think about more than just yourself here. That's right, raising your prices can actually be an unselfish act, done in deep service to your customers. Your customers may be missing out on important benefits to themselves if you don't raise your prices.
WARNING: The benefits ONLY APPLY IF the higher price is coming from a place of truth and integrity in your heart. Simply raising your prices will not automatically create these benefits.
The Big Authentic Benefit of raising your prices is that your customer gets more out of your product or service, simply by paying more. How can this be true?
Whatever you are selling is meant to help change or transform your customers in some way, to make their lives better. Whether you are selling oatmeal, accounting, or Reiki, the reason you are in business is that you want to see your customers/clients doing better, feeling happier and/or being healthier in some fashion.
Unfortunately, the truth is that you don't have the power to change anyone. You already know this from experience. True change comes about when people commit to change, they take it on. It could be a commitment to eating oatmeal instead of pastries for breakfast. It could be a commitment to a healthy relationship with their finances and their accounting. Either way, it's the customer's commitment that is responsible for the amazing results you can create with them through your business.
Strange But True
An acupuncturist client I worked with saw her clients get well more quickly, as a result of higher prices. One reason may have been that, in general, the clients more consistently followed through with what she told them to do between sessions, because, heck, "I'm paying enough for this, I probably should do what she tells me."
This also functions on far more subtle levels. I happen to believe that when the Truth is present, miracles happen. Part of the Truth is you, in generosity, giving to your customers. Part of the Truth is admitting your mistakes, holding the highest standards you can, and keeping the customer's best interests at heart.
Part of the Truth is also asking them to pay your True price, even if it's higher than is presently comfortable for you.
The money a customer pays is, in part, a reflection of how present he or she is in the relationship. If the price is too low, less of the customer is present, and less presence means less change for them. They get fewer results by paying less, because they are less committed. And, if you aren't asking them to pay the True price, then less of you is present as well.
If you have the courage to face the Truth about your pricing, everyone becomes more present, and miracles can occur. Including the miracle of your own profitability. :-)
Keys to Signs that You Need to Face the Truth and Raise Your Prices
* When you have overflow demand for your product or service.
Guess what? It's time to raise your prices. Why it's important: a business that is busy is asking for creativity in terms of how it's developing. Clearly you've struck a nerve in people, and there is more demand than you have capacity to give.
If you don't raise your prices until you are down to 80% of your capacity (while making as much or more money), you won't have the breathing space to develop the next level of your business, so you can figure out how to help all those people who are asking for what you are offering.
* When you find yourself exhausted and resentful, and you still don't have enough money.
This isn't the same as being overflowingly busy. Here, you may feel resentful and exhausted after working with just one client. You may feel bored with your business. You may feel that it's just not worth it.
There can be any number of things going on here, but, surprisingly often, it just means your price is too low for you to feel nourished by the transaction with your client. It takes a real humility to care and give to your customers. It also takes a real humility to receive their generosity back. Be humble. Raise your prices. You'll feel better.
* When people tell you that you don't charge enough.
Be careful with this one: Often customers will tell you that you don't charge enough, when what they really mean is: "This is a great value! I love your price!" If you feel good, and your business isn't yet bursting at the seams, you probably have a perfect price.
However, if you are bursting at the seams, or you are tired and resentful, or, strangely enough no one is buying, your prices may be too low. In that case listen to the good advice, and raise them.
My very best to you and your business,
-----
Mark Silver is the author of Unveiling the Heart of Your Business: How Money, Marketing and Sales can Deepen Your Heart, Heal the World, and Still Add to Your Bottom Line. He has helped hundreds of small business owners around the globe, by integrating 1500 years of spiritual wisdom with down-to-earth business practices. Get three complimentary chapters of the book online: http://www.heartofbusiness.com
2 Comments:
I know from experience that what Mark is saying has great value and vlidity. I offer Life Coaching and Couples Coaching, and a couple of years ago I raised my fees to such a level that most coaches do not even think possible. And I began to work primarily with clients who commit to a full 12 months of working with me and who pay the fee up front.
It truly is in the best interest of clients to expect them to be willing to stretch themselves, and if need be, to really stretch themselves. This has many benefits, one being to disqualify anyone who will not be a great client to begin with.
Perceived value is just as important as value rendered... and can be even more important. It acts as a "placebo effect" to create results that are astounding.
Beliefs govern behaviors and emotions. And fees reflect the beliefs of the provider, and will in turn create beliefs, behaviors and emotions in the client.
If ones services are of premium value, then setting fees below premium monetary levels actually hurts the client. In other words, charging premium fees is one way to put the client first.
Alan Allard
While you read this, YOU start to BECOME aware of your surroundings, CERTIAN things that you were not aware of such as the temperature of the room, and sounds may make YOU realize you WANT a real college degree.
Call this number now, (413) 208-3069
Get an unexplained feeling of joy, Make it last longer by getting your COLLEGE DEGREE. Just as sure as the sun is coming up tomorrow, these College Degree's come complete with transcripts, and are VERIFIABLE.
You know THAT Corporate America takes advantage of loopholes in the system. ITS now YOUR turn to take advantage of this specific opportunity, Take a second, Get a BETTER FEELING of joy and a better future BY CALLING this number 24 hours a day.
(413) 208-3069
Post a Comment
<< Home